As I’ve already discussed in this blog a few days ago, the leading credit insurers like Euler Hermes, Atradius etc are being criticised in the press for pulling insurance cover as claims mount. Of course, this is not an issue peculiar to the UK market- its happening across Europe too. I now hear that the french government has just announced that a publicly owned organisation, Caisse Centrale Reassurance, is stepping in to offer trade credit insurance to those that can no longer get it from the normal players- those that supply the construction and retail industries will be very pleased with this move.
Back here , the shake up in the credit insurance industry carries on. Amlin PLC, I also hear, has announced it’s pulling out of trade credit altogether, and will just run off existing policies. On it’s website this morning, Amlin proudly boasts about its organisation… “Continuity in an Uncertain World”……..Well, marketeers can’t get it right all the time!
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies